Which Dimension of Corporate Social Responsibility is a Value Driver in the Oil and Gas Industry?
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Finance study of which corporate social responsibility dimensions drive firm value in oil and gas; the object is firm valuation.
This study analyzes corporate social responsibility and firm value in the oil and gas industry, not research practice.
Business study of CSR dimensions and firm value in oil and gas; corporate finance object.
Abstract
Abstract The oil and gas (O&G) industry suffers from a negative perception of poor sustainability. O&G companies are therefore engaged in several socially sustainable activities related to community development and environmental protection. This article determines whether the social, environmental, and economic dimensions of corporate social responsibility (CSR) are equally value‐additive to O&G companies. We measure the company‐specific level of CSR activities from the information provided in the annual financial reports of O&G companies and determine the effects of CSR dimensions on firm value. We find that CSR enhances firm value of O&G companies. While social activities such as employee well‐being and community development are key value‐drivers, environmental and economic sustainable activities have an insignificant impact on the market value of O&G companies. Copyright © 2018 ASAC. Published by John Wiley & Sons, Ltd
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The record
- Venue
- Canadian Journal of Administrative Sciences / Revue Canadienne des Sciences de l Administration
- Topic
- Corporate Social Responsibility Reporting
- Field
- Business, Management and Accounting
- Canadian institutions
- University of Northern British Columbia
- Funders
- —
- Keywords
- Corporate social responsibilityValue (mathematics)SustainabilityBusinessDimension (graph theory)Social responsibilityPetroleum industrySustainable developmentPerceptionMarket valueAccountingPublic relationsEngineeringPolitical science
- Has abstract in OpenAlex
- yes